Ciner Resources (CINR) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Ciner Resources (NYSE:CINR) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. Zacks Investment Research currently has $28.00 price target on the basic materials company’s stock.

According to Zacks, “Ciner Resources LP, a master limited partnership, producers of natural soda ash. It operates the trona ore mining and soda ash production business primarily in the Green River Basin of Wyoming. Ciner Resources LP, formerly known as OCI Resources LP, is based in ATLANTA, United States. “

CINR has been the subject of several other reports. B. Riley reissued a buy rating on shares of Ciner Resources in a report on Wednesday, November 1st. SunTrust Banks reissued a hold rating on shares of Ciner Resources in a report on Tuesday, December 19th. ValuEngine raised Ciner Resources from a hold rating to a buy rating in a report on Friday, December 1st. Finally, BidaskClub raised Ciner Resources from a strong sell rating to a sell rating in a report on Wednesday, September 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $26.50.

Shares of Ciner Resources (CINR) traded up $0.15 during mid-day trading on Tuesday, hitting $26.00. The company’s stock had a trading volume of 24,500 shares, compared to its average volume of 17,533. Ciner Resources has a one year low of $22.61 and a one year high of $32.50. The stock has a market cap of $509.92, a P/E ratio of 13.68 and a beta of 1.00. The company has a quick ratio of 3.08, a current ratio of 3.48 and a debt-to-equity ratio of 0.55.

Ciner Resources (NYSE:CINR) last posted its quarterly earnings results on Monday, November 6th. The basic materials company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.03). The business had revenue of $122.50 million during the quarter, compared to analyst estimates of $118.10 million. Ciner Resources had a net margin of 7.77% and a return on equity of 15.13%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.56 earnings per share. research analysts expect that Ciner Resources will post 1.97 EPS for the current year.

A number of hedge funds have recently modified their holdings of CINR. Bank of New York Mellon Corp raised its holdings in shares of Ciner Resources by 16.7% in the second quarter. Bank of New York Mellon Corp now owns 71,021 shares of the basic materials company’s stock worth $1,946,000 after acquiring an additional 10,150 shares during the last quarter. FMR LLC raised its holdings in shares of Ciner Resources by 97.5% in the second quarter. FMR LLC now owns 285,435 shares of the basic materials company’s stock worth $7,821,000 after acquiring an additional 140,931 shares during the last quarter. California Public Employees Retirement System raised its holdings in shares of Ciner Resources by 1.2% in the second quarter. California Public Employees Retirement System now owns 91,100 shares of the basic materials company’s stock worth $2,496,000 after acquiring an additional 1,100 shares during the last quarter. Walthausen & Co. LLC raised its holdings in shares of Ciner Resources by 15.1% in the second quarter. Walthausen & Co. LLC now owns 403,860 shares of the basic materials company’s stock worth $11,066,000 after acquiring an additional 53,090 shares during the last quarter. Finally, Advisory Services Network LLC raised its holdings in shares of Ciner Resources by 0.3% in the second quarter. Advisory Services Network LLC now owns 10,723 shares of the basic materials company’s stock worth $294,000 after acquiring an additional 32 shares during the last quarter. 9.00% of the stock is owned by hedge funds and other institutional investors.

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About Ciner Resources

Ciner Resources LP, through its subsidiary, Ciner Wyoming LLC (Ciner Wyoming), produces soda ash and serves a global market from its facility in the Green River Basin of Wyoming. The Company processes trona ore into soda ash, a raw material in flat glass, container glass, detergents, chemicals, paper and other consumer and industrial products.

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